Mathematics · Compound Interest
Abhinav borrowed money for 2 years at 10% per annum simple interest. He lent the same amount for the same period at the same rate of compound interest compounded half-yearly. At the end of 2 years, he earned a net profit of Rs 2,481 from the interest difference. Find the amount he borrowed.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Rs 1,52,000
- 2Rs 1,36,800
- 3Rs 1,60,000✓
- 4Rs 1,44,000
Correct answer
Rs 1,60,000
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